Citi named best bank in Finance Asia poll

MANILA, Philippines - Citi has been named as the best bank in Asia for 2012 by FinanceAsia magazine, one of the leading finance publication in the region.

The decision was made by the editorial team of FinanceAsia, and was based on the performance of banks across institutional and retail banking for the last 12 months.

Citi also picked up several awards including the best general industries bank, the deal of the year, best mid-cap equity deal, best M&A deal, best investment grade bond and best high yield bond.

The global financial institution also led transactions that picked up best deals in China, Hong Kong, India, South Korea, Sri Lanka and most innovative deal and best IPO in Australia.

“Citi had a remarkably good year in investment banking…its commercial bank had a good year…and Citi edged ahead in the race in China this year when it became the first global bank to issue sole branded credit cards,” FinanceAsia said.

It likewise highlighted Citi’s “continued expansion in cash management and trade” and the bank being the first to pass the one million mark for active mobile banking customers in Asia.

 In 2012, Citi Asia was the largest region by revenue and net income for Citi globally outside of North America with deposits in the region up some seven percent to $250 billion.

Citi is also the leading wealth manager in Asia Pacific with over $200 billion assets under management.

It raised $150 billion from the capital markets for Asia Pacific clients and advised on close to $100 billion for mergers and acquisitions in the region.

In retail banking, it added over 500,000 new retail accounts to hit 17 million last year. Including credit cards the bank has over 32 million customer accounts in Asia.

In the Philippines, Citi was recognized as the best foreign commercial bank for the 14th consecutive year. It has consistently won this award since it was introduced in 1998 by FinanceAsia.

According to Citi country officer for the Philippines Sanjiv Vohra, the award was a testament to the institution’s continuing commitment to serving the financial needs of its clients in the best way possible.

Citi Philippines was cited for improved ranking in total assets, loans and deposits, cementing its position as a large and omnipresent commercial bank in the Philippines.